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Used truck Financing

Discussion in 'Trucks and Trailers' started by AWJ Services, Aug 30, 2013.

  1. AWJ Services

    AWJ Services LawnSite Platinum Member
    from Ga
    Posts: 4,276

    I have been trying too get in one but right now there are not availible too me. The ones I have talked too will not touch med and heavy duty trucks however.
  2. stuvecorp

    stuvecorp LawnSite Fanatic
    Posts: 5,213

    I have not found anyone that will do medium or heavy trucks at a rate or terms that isn't ridiculous.

    My credit union will do up to a 550 but that is it. They did give me a good rate at less than 5% for a used truck.
  3. Mowingman

    Mowingman LawnSite Platinum Member
    from Texas
    Posts: 4,646

    You guys really need to shop around for a better bank. My bank gave me 5.5%, for 48 months, on a 1993 Chevy Kodiak 7500, that I bought to pull gooseneck trailers. They also financed 100% of the truck cost. This truck is 20 years old.
  4. mlavin73

    mlavin73 LawnSite Member
    Posts: 184

    I've been looking for a spare back up truck recently. I think what I am going to do is talk to my credit card company. I have had the card for probably 15 years and they are always paid in full every month. In the past I have asked if they were running any cash advance promotions. The last time I did it I believe they gave me around $5K one year interest free. I then make sure to pay it off in 11 months and don't end up paying any interest on the loan. I don't recall if there were any fees associated with it but if there are, I'm sure it's less than paying interest. I still have to finalize a deal with the guy then I will work with the CC company.

    I'm currently looking at a truck for $9500. Plan on putting half down and trying the credit card thing with the rest. I hate taking the whole truck cost out of my account when winter is not very far away.
  5. YellowDogSVC

    YellowDogSVC LawnSite Gold Member
    from TX
    Posts: 3,752

    Are you seeing same problems with credit unions? I find them pretty easy to deal with.
  6. AWJ Services

    AWJ Services LawnSite Platinum Member
    from Ga
    Posts: 4,276

    They generally do not venture into commercial loans like a med/ heavy duty trucks. At least not here.
  7. AWJ Services

    AWJ Services LawnSite Platinum Member
    from Ga
    Posts: 4,276

    There where 10 failed banks in Texas. There where 88 banks failed in Ga. Do the math!

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